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Chow Tai Fook Enterprises to Sell Australian Power Biz for HKD33.7B+
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Sembcorp Industries, a company listed on the Singapore Exchange, announced the acquisition of the entire equity of Australian energy retailer and generator Alinta Group from Chow Tai Fook Enterprises, the investment flagship of the Cheng family, for AUD6.5 billion, equivalent to around HKD33.76 billion. Alinta operates in energy retail and generation in Australia, currently possessing renewable energy and stable power supply systems, with a total capacity of 10.4GW in development project reserves. The transaction is still subject to approval by Sembcorp shareholders at a special general meeting and requires permissions from regulatory bodies such as the Australian Foreign Investment Review Board and the Australian Competition and Consumer Commission. Its completion is expected towards 1H26. AAStocks Financial News |
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